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The Indian Motorsports League (IML), which is close to sealing a $400mn fund deal from two US-based PE firms and a Middle East-based sports fund, is also in the process of teaming up with a production house in Europe for broadcast rights in India. IML will use the funds to set up a race campus, car manufacturing facilities and race tracks. “Once the funds are secured, we will showcase the cars and start the races,” said Raj Kashyap, managing partner […] L Capital Asia, a private-equity arm of LVMH Moet Hennessy Louis Vuitton, is in talks to invest about $150 million to acquire a minority stake in a unit of India’s Raymond Ltd., the Economic Times reported Monday, citing people aware of the matter. L Capital Asia may buy a 10%-20% stake in Raymond Apparel, which owns brands such as Park Avenue, Parx and Notting Hill, sold via its exclusive retail stores, the report said. Source: WSJ Swiss private bank EFG is exiting Indian market with its top brass – managing assets estimated at $250 million – moving over to L&T Finance Holdings. The development marks L&T’s foray into private wealth management, providing it with a robust platform of assets to start, said sources directly familiar with the matter. Troubled by the Eurozone crisis, EFG decided to pull out earlier this year leading to the exit of its chief executive Manoj Shenoy and 12 private bankers, who […] The IT services arm of Indian steel-to-oil conglomerate Essar Group is in talks to raise $500 million to $600 million through a U.S. initial public offering and the sale of a stake to private equity firms, sources familiar with the matter said. Essar’s Aegis Ltd is in talks with private equity investors including U.S.-based Warburg Pincus and General Atlantic to raise as much as $200 million in an equity placement prior to an IPO, sources said, declining to be named […] |